Factors Influencing Consumer Adoption of Digital Payment Systems: Exploring Demographic, Psychological, and Sustainability Dimensions
DOI:
https://doi.org/10.64137/31080030/IJFEMS-V2I1P102Keywords:
Digital payment systems, Consumer adoption, Demographic factors, Psychological dimensions, Environmental awareness, Technology acceptanceAbstract
The financial landscape has been significantly altered by rapid advances in digital technology, with digital payment systems emerging as essential facilitators of financial transactions in modern economies. This research examines factors influencing customers' use of digital payment options, focusing on demographic, psychological, and sustainability characteristics. The study was quantitative, and the data were collected from 384 respondents using a standardized questionnaire design. The demographic characteristic indicated fairness across age, sex, and educational level. The relationships between the variables are evaluated with statistical techniques such as hypothesis testing and factor analysis. The findings show that invaluable customer, innovation, concern forthe environment, and sustainable business practices have a positive and significant influence on the acceptance of e-payment. Despite a negative correlation with perceived danger, the difference was not statistically significant. The research highlights the increasing importance of technological transparency and environmental consciousness in influencing customer choices. Implications of these findings apply to policymakers, Fintechs, and sustainability proponents in promoting digital payment adoption and fostering responsible consumption.
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